LTTS Posts Marginal Profit Increase Amid Revenue Decline

L&T Technology Services (LTTS) reported a slight increase in post-tax profit for the June quarter, but revenue and profitability declined sequentially. The company attributes this to seasonal factors and investments in leadership and AI. Despite challenges, LTTS maintains its revenue target for FY25, anticipating growth in both revenue and margins.

L&T Technology Services (LTTS) reported a 1% increase in post-tax profit for the June quarter, reaching Rs 314 crore. However, profitability slid compared to the preceding March quarter.

Total revenues climbed 7% to Rs 2,462 crore from Rs 2,301 crore a year ago but declined 3% from the previous quarter. Managing Director and CEO Amit Chadha attributed the decline to seasonal factors and investments in leadership and AI initiatives.

Operating profit margin decreased to 15.6% from the previous year's 17.2%. Chadha remains optimistic, projecting improved financial metrics and confirming salary hikes by October. The company closed the June quarter with a headcount of 23,577, down by 250, yet plans to add over 300 staff in the September quarter.